Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up – Should You Buy?

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $27.50, but opened at $30.00. Grupo Simec shares last traded at $30.00, with a volume of 105 shares changing hands.

Grupo Simec Stock Performance

The stock’s 50-day moving average is $29.57 and its 200 day moving average is $30.16. The stock has a market capitalization of $4.61 billion, a PE ratio of 25.03 and a beta of 0.15.

Grupo Simec (NYSEAMERICAN:SIM) last released its quarterly earnings data on Tuesday, June 30th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter. Grupo Simec had a net margin of 11.28% and a return on equity of 5.96%. The company had revenue of $466.03 million during the quarter.

Grupo Simec Company Profile

Grupo Simec (NYSE American: SIM) is a Mexico‐based producer and distributor of long steel products, serving construction, infrastructure, industrial and energy markets. The company’s core operations encompass the manufacture of merchant bar steel, including reinforcing bar (rebar), wire rod, merchant bars and structural shapes. In parallel, its service centers offer cutting, bending and other value‐added processing services to meet the precise specifications of fabricators and end users.

With multiple steel mills located throughout Mexico and an expanding footprint in the United States, Grupo Simec maintains a vertically integrated supply chain that spans raw‐material sourcing, steelmaking and downstream processing.